The impact of the Iran War on Asian currencies is a pertinent reminder of the differences in Asian economies. While some currencies have fared well, even maintaining levels versus the US Dollar, others have been having a turbulent ride.

The below graph shows the value of various Asian currencies versus US Dollar, all rebased to 1.00 on February 27, 2026, the day before the start of the Iran War. This shows the differing impacts of recent events.

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